New Bitcoin buyers have quietly stacked about 570,000 BTC since late July — even while ETF funds were selling. Their average buying price is near $75,000, and that level has held on every pullback since August, which is why traders now treat it as the floor to defend.
Key points:
- New buyers added about 570,000 BTC since late July, Bitfinex said on October 17.
- Their average cost is about $75,000, a level that has acted as support on every pullback since August.
- The buying has supported the low end of Bitcoin's range while spot ETF flows have weakened.
Bitfinex shared the figures on X on October 17. The exchange said buying by new market participants has helped support the lower end of Bitcoin's price range even as ETF fund flows weakened. In simple words, the selling from funds has been met by steady demand from a new wave of holders.
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Why it matters for traders
An average cost near $75,000 gives these buyers a profit cushion while Bitcoin trades in the low $80,000s — and holders in profit usually sell less in a panic. That helps explain why dips since August have found buyers before reaching $75,000.
The other side of the story is that new buyers are also the quickest to react when volatility jumps. If price ever fell back toward their $75,000 average cost, that cushion would disappear, and the same group that absorbed ETF selling could turn into sellers defending their break-even level.
What happens next?
Traders will watch two things: whether ETF outflows slow down, and whether Bitcoin keeps holding well above $75,000 on its next pullback. As long as new-buyer demand keeps absorbing the fund selling, the low end of the range stays defended — a break below $75,000 would change that picture fast.
— Crypto News Daily News Desk
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: TradingView, Coinfomania, Bitfinex